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Gold & Silver DAILY NEWS

The gold and silver markets have rallied during the last three weeks, and despite brief hiccups in gold and silver prices, the prices of both metals are currently near six-week highs. As of 8am EST … Read More

Daily Gold Silver Update

Post by Janet Jones
on January 8, 2009

January 8, 2009 – Gold and silver bullion coins see some significant increase today as both spot prices increase as a result of a failing dollar which causes many investors to look into precious metals as the ultimate alternative safe haven option. We’re currently experiencing the United States Dollar to fall to a three-day low versus the Euro and a three-week low versus the Pound. Historically gold and silver bullion coins move opposite to the Dollar and investors right now are turning to the metals as the alternate safe haven option. We could see some serious increases in spot prices in the near future as the global economy continues to worsen and the Dollar continues to fall. Any further sign of weakness in the US economy is likely to have a significant impact on the Dollar, which could directly affect the prices of gold and silver bullion coins and other precious metals.

Gold is currently trading at around $856.90 per ounce, which is a 1.77% increase for the day and a 10.48% increase for the month. On the other hand silver rises $.16 today, up to $11.18 per ounce and future projections are saying that increased industrial demand for the relatively inexpensive metal could bring it up to nearly double its current price. As the global economy continues to worsen, it looks like those invested in precious metals may have it easier than those who have not invested. My advice is, continue investing and keep our heads to the sky. Have an excellent day!